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Stock Market & Financial Investment News

News Breaks
July 25, 2014
11:29 EDTDECK, NKE, UA, SKXDeckers Outdoor climbs higher after Q1 results, increased FY outlook
Shares of footwear company Deckers Outdoor (DECK) are climbing higher after the company reported first quarter earnings per share and revenue that exceeded analysts' consensus along with an increased FY15 EPS and revenue outlook. WHAT'S NEW: Deckers said its Q1 loss per share was $1.07, which was better than analysts' consensus of a $1.28 per share loss. Revenue for the quarter was $211.5M, exceeding analysts' consensus estimates of $192.01M. The company's direct-to-consumer comparable sales were up 10% in Q1 and UGG brand net sales for the quarter were up 22.8% to $123.3M. Teva brand net sales in Q1 were up 25.7% to $39.3M and its Sanuk brand net sales were up 19.6% to $36M. Deckers' Q1 combined net sales of the company's other brands increased 54.5% to $12.9M. Sales for the global retail store business increased 29.4% to $42M. Looking ahead, Deckers now expects fiscal year 2015 EPS to increase approximately 14.5% from previous guidance of up 13.5% and expects FY15 revenues to increase about 14%, up from the previous guidance of 13%. The consensus estimate for EPS and revenue are $4.69 and $1.8B, respectively. Deckers now expects FY15 UGG brand revenues to increase approximately 12% over the prior year from the previous guidance of 11% and predicts FY15 Teva brand revenues will increase approximately 11% over the prior year. The company expects FY15 Sanuk brand revenues to increase approximately 15% compared to the prior year. Combined FY15 net sales of the company's other brands are expected to be approximately $82M. The company's guidance assumes a gross profit margin of approximately 49%, an operating margin of approximately 13%. and an effective tax rate of about 29%. WHAT'S NOTABLE: The company expects second quarter EPS of approximately 98c against analysts' estimates of $1.13 and sees revenues for the quarter up about 18% from the year ago period against estimates of $441.17M. ANALYST REACTION: Jefferies analyst Randal Konlk upgraded Deckers to Buy from Hold after the firm said it has more conviction of the company's margin expansion potential in FY15. The analyst believes that the company's market undervaluing the sequential upward potential at the moment from new product reveals could contribute an incremental $150M-$250M in revenue over the next 1-2 years. The firm increased its price target for Deckers to $130 from $78. ISI Group, which raised its price target on shares to $105 from $95, believes Deckers investments are beginning to drive more consistent sales results and driving it into a lifestyle brand. Citigroup also raised its price target on Deckers, to $105 from $94, following the better than anticipated Q1 results and guidance. PRICE ACTION: During late-morning trading, shares of Deckers were up $5.60 or 6.57%, to $90.84. OTHERS TO WATCH: Other running shoe makers include Nike (NKE), Under Armour (UA) and Skechers (SKX).
News For DECK;NKE;UA;SKX From The Last 14 Days
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September 24, 2014
10:11 EDTSKXSkechers lower after Buckingham comments on sales data
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10:09 EDTSKXSkechers weakness a buying opportunity, says Sterne Agee
September 22, 2014
11:00 EDTUAUnder Armour management to meet with SunTrust
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September 19, 2014
07:10 EDTDECKDeckers Outdoor seeing strong growth across brands, says Piper Jaffray
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06:48 EDTNKENike investors convey sponsorship worries amid suspensions, WSJ says
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06:04 EDTNKENike marketing exec Eric Toda departs for Snapchat, Re/code reports
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September 18, 2014
09:33 EDTNKENike mentioned positively at OTR Global
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09:22 EDTNKE, UA, SKXBack to school season healthy for footwear, says Sterne Agee
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07:26 EDTNKEGartner: Smartwatch market ready to expand, poised for takeoff, DigiTimes says
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September 17, 2014
13:34 EDTNKENike September weekly volatility elevated into Q1 and outlook
Nike September weekly option implied volatility is at 34, October is at 22, January is at 19; compared to its 26-week average of 21 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on September 25.
12:46 EDTSKXSkechers pullback a buying opportunity, says Wunderlich
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12:43 EDTSKXSkechers reiterated Buy at Wunderlich
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12:01 EDTNKENike suspends contract with Adrian Peterson
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11:16 EDTSKXOptions with increasing implied volatility:
Options with increasing implied volatility: WB SDRL TAP AGNC IYR SKX
10:00 EDTNKEOn The Fly: Analyst Initiation Summary
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10:00 EDTUAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AB InBev (BUD) upgraded to Hold from Sell at Societe Generale... Baker Hughes (BHI) upgraded to Outperform from Sector Perform at Howard Weil... Bank of the Ozarks (OZRK) upgraded to Buy from Hold at BB&T... Bill Barrett (BBG) upgraded to Buy from Neutral at Mizuho... Cepheid (CPHD) upgraded to Buy from Hold at Cantor... Cigna (CI) upgraded to Positive from Neutral at Susquehanna... Extra Space Storage (EXR) upgraded to Buy from Hold at Jefferies... GNC Holdings (GNC) upgraded to Outperform from Neutral at Wedbush... MB Financial (MBFI) upgraded at DA Davidson... Mondelez (MDLZ) upgraded to Buy from Hold at Societe Generale... Radian Group (RDN) upgraded to Buy from Neutral at Compass Point... Skullcandy (SKUL) assumed with a Overweight from Neutral at Piper Jaffray... Under Armour (UA) upgraded to Overweight from Neutral at Piper Jaffray.
09:01 EDTSKXSkechers files infringement lawsuit against DB Shoe Company
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07:30 EDTNKENike September weekly volatility elevated into Q1 and outlook
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September 16, 2014
16:34 EDTNKENike assumed with a Neutral at Piper Jaffray
Target $77.
16:33 EDTUAUnder Armour upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Under Armour to Overweight with a $78 price target after assuming coverage of the stock.
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